Market Research Report
Industrial Internet of Things Market in Asia-Pacific, Forecast to 2022
|Published by||Frost & Sullivan||Product code||739357|
|Published||Content info||76 Pages
Delivery time: 1-2 business days
|Industrial Internet of Things Market in Asia-Pacific, Forecast to 2022|
|Published: October 24, 2018||Content info: 76 Pages||
IIoT is Set to Transform the Manufacturing Landscape Over the Next Decade
IIoT brings together two separate technologies: Enterprise IT for resource planning and decision support systems, and Operations technology that controls machines/equipment, manufacturing and the related processes. Leveraging this will also require equipping the workforce with adequate skills, and this requires preparation. It is expected that IIoT will offer opportunities to the workforce for learning new skills. It will also computerize many of the tasks, particularly those that are of repetitive nature. In order to cash in on the bigger opportunities from IIoT, the workforce in organizations need to possess skills in data science, software development, hardware engineering, testing, etc. Companies, clients and other stakeholders have to collaborate in order to mitigate the risks typical to those connected to networks.
IIoT platforms are still in an emerging phase and companies are trying to establish themselves across many industries. There is a growing need to come up with open architecture and companies are starting to develop and share non-proprietary platforms. The benefits are for all stakeholders. Companies stand to save more by moving from a “fix when fail” approach to predictive maintenance. Suppliers also benefit as a result of reduced warranty fulfillment costs.
This study provides information on digitization and Industrial Internet of Things (IIoT) related trends in Asia-Pacific. It provides an overview of smart factory and the need to have open platforms. This is because one of the key considerations while deploying IIoT systems is the manner in which legacy systems are handled as many legacy devices in industrial settings have a long lifespan and it may not be economically viable to upgrade a large number of devices so as to be able to communicate with the cloud.
The study also provides information on the areas of opportunity for suppliers of automation products and systems. It includes three case studies to illustrate how embracing IIoT has helped end users achieve better performance. While it is still early to accurately estimate the benefits, there are technology challenges that need to be overcome, especially in the areas of connectivity and security.